Welcome to the blog of a living being on planet Earth, a holder of (man-mandated) citizenship of India, and so on and so forth! I hope you find it worthwhile to observe the parts of my journey in this lifetime that I share here. "natant" means floating.

February 28, 2012

life in financial markets: tata sons issues Rs 58 crore worth of preference shares to 9 people including ratan tata

Here is something that is of some relevance to shareholders in listed Tata Group companies which they won't get to know of immediately under the disclosure norms of the listing agreements with the National Stock Exchange of India and BSE. On December 30 last year (2011) and January 2 this year (2012), Tata Sons, the holding company for all Tata Group companies, issued 5.78 lakh new 7.5% cumulative redeemable preference shares of Rs 1,000 each to nine people, as per the mandatory statutory filings made by the company under The Companies Act, 1956 (as amended till date).

Issued at a par value of Rs 1,000 each, the preference shares issue fetched Tata Sons a sum of Rs 57.78 crore in cash. Prior to issue of these preference shares, the paid-up preference shares capital of Tata Sons was Rs 4,089 crore, made up 408.9 lakh preference shares of Rs 1,000 each. The paid-up equity share capital of Tata Sons, as of January 2 this year (2012) was Rs 40 crore comprising of 4 lakh equity shares of Rs 1,000 each.